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Aker Solutions calls off NPS Energy acquisition deal
- United Arab Emirates: Thursday, November 22 - 2012 at 04:40
Aker Solutions has scrapped plans to acquire Dubai-headquartered oil services company NPS Energy. On May 21, the Norwegian oil services firm said it had agreed to buy NPS Energy, provided the deal to be concluded by November 20, after which either party would have the right to terminate the transaction. "We and the seller have not been able to reach the conditions for closing as agreed, and rather than risk increasing uncertainty, it was in the company and our shareholders' interest to terminate the transaction," said Aker Solutions executive chairman, Øyvind Eriksen.
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